"Adani Green Seals 1,799 MW Solar Power Agreement with SECI, Fulfilling 8,000 MW Pledge"

Adani Green Energy Ltd has successfully concluded a power purchase agreement with the Solar Energy Corporation of India, solidifying the delivery of 1,799 MW of solar power. This pivotal agreement signifies the fulfillment of AGEL’s power offtake commitments as part of the 8,000 MW manufacturing-linked solar tender awarded by SECI in June 2020.

The company has announced the operationalization of a plant boasting a 2 GW annual capacity through its subsidiary, Mundra Solar Energy Ltd, located in Mundra, Gujarat. AGEL maintains a 26 per cent stake in Mundra Solar Energy Ltd through its wholly-owned subsidiary, Adani Renewable Energy Holding Four Ltd.

In the wake of this significant development, Adani Green has successfully secured Power Purchase Agreements (PPAs) for an impressive 19.8 GW and secured access to over 2 lakh acres of land strategically positioned in resource-rich areas across India. The company asserts that it has effectively de-risked its portfolio and is poised to execute a robust 45 GW capacity by 2030.

Amit Singh, the CEO of Adani Green Energy Ltd, expressed the company's commitment, stating, “Adani Green is determined to deliver in excess of 45 GW of renewable energy, marking a five-fold increase from our current operating portfolio. This reaffirms our resolve to provide affordable and accessible clean energy, aligning with India’s target of achieving 500 GW of non-fossil fuel capacity by 2030.”

HBL